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Markets Pulse

Nokia At Least Delivers

Wednesday’s slew of news from Nokia (NOK) is encouraging, says Francisco Jeronimo, an industry analyst at IDC, after the company announced a deal with China Mobile (0941.HK) to sell a Chinese version of the Lumia 920 flagship device, and unveiled the mid-tier Lumia 620 smartphone. According to IDC’s data, mid-tier smarphones is the fastest growing phone segment in many markets such as Western Europe, and the Lumia 620 will allow Nokia to compete with heads-on with affordable Android devices, Jeronimo says. Adds that the deal with China Mobile is likely to help Nokia regain lost footing in China, where Nokia’s sales tumbled 78% year-on-year in 3Q. Shares 7.3% higher at EUR2.708.sven.grundberg@dowjones.com